3D Printing Medical Devices Market Worth 1.88 Billion USD by 2022
PUNE, India, August 22, 2017 /PRNewswire/ --
According to a new market research report "3D Printing Medical Devices Market by Component (3D Printers, 3D Bioprinters, Material (Plastic, Metal, Ceramic), Software & Services), Technology (EBM, LBM, Photopolymerization, 3DP, and DD), Product Type (Prosthetics, Implant) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 1.88 Billion by 2022 from USD 0.84 Billion in 2017, at CAGR of 17.5% from 2017 to 2022.
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Browse 78 Market Data Tables and 31 Figures spread through 198 Pages and in-depth TOC on "3D Printing Medical Devices Market"
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Key factors such technological advancements, increasing public-private funding, and growing applications in the healthcare industry are the major factors driving the growth of the 3D Printing Medical Devices Market across the globe.
By component, the software & services segment is expected to hold the largest market share in 2017
On the basis of component, the global 3D Printing Medical Devices Market is segmented into three broad categories, namely, equipment, materials, and software & services. The software & services market is estimated to command the largest share of the global 3D Printing Medical Devices Market in 2017. Increasing development of advanced software solutions to manufacture high-quality 3D-printed medical products is the key factor driving the growth of the services and software segment.
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By technology, the photopolymerization segment projected to account for the largest share in 2017
Based on technology, the market is segmented into suture 3D printing medical devices, electron beam melting (EBM), laser beam melting (LBM), photopolymerization, droplet deposition or extrusion-based technologies, PolyJet technology, and three-dimensional printing (3DP) or adhesion bonding or binder jetting. The photopolymerization segment is expected to hold the largest share of the 3D Printing Medical Devices Market in 2017. This is attributed to the widespread application of this technology across the medical industry, for manufacturing surgical guides (orthopedic, dental, and CMF guides), prosthetics and implants, porous scaffolds, and dental restorations.
By type, the surgical guides segment is expected to hold the largest market share in 2017
On the basis of type, the 3D-printed medical products market is segmented into surgical guides, surgical instruments, prosthetics & implants, and tissue engineering products. The surgical guides segment is expected to account for the largest share of the 3D Printing Medical Devices Market in 2017. 3D printing surgical guides as a part of surgical planning can significantly improve the precision of implant placement and provide accurate implant restorations. Due to this, the demand for precise and affordable guides is increasing; this is the key factor driving the growth of this market segment.
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North America is expected to dominate the market in 2017
As of 2017, North America held the largest share of the global 3D Printing Medical Devices Market, followed by Europe. Its large share is attributed to the rising demand for organ transplants across this region. The presence of a highly developed healthcare infrastructure and significant government & private investments to develop advanced 3D printing technologies & applications are the key factors responsible for the large share of this regional segment. Additionally, conferences and trade are also supporting the growth of the 3D Printing Medical Devices Market in North America.
The key players in the global 3D Printing Medical Devices Market are Stratasys, Ltd. (Israel & U.S.), 3D Systems Corporation (U.S.), EnvisionTEC GmbH (Germany), Materialise NV (Belgium), EOS GmbH (Germany), Arcam AB (Sweden), Concept Laser GmbH (Germany), Renishaw plc (U.K.), Prodways Group (France), and 3T RPD Ltd. (U.K.).
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